A television's price was discounted $40\%$ and then slashed another $40\%$ during a liquidation sale. By what percent has the original price been reduced?
Solution: Let the original price of the television be $T$. Then the price is now $0.6(0.6T)=0.36T$. Thus overall the price has been reduced by $1-0.36=\boxed{64\%}$.